Smart pet feeder manufacturers should collaborate with pet food suppliers and veterinary care providers to gain higher market share
United States, Rockville MD, July 08, 2022 (GLOBE NEWSWIRE) -- The global smart pet feeder market is valued at US$ 198.3 million and is predicted to expand at a high CAGR of 8% between 2022 and 2032, as per detailed industry analysis by Fact.MR, a market research and competitive intelligence provider. Worldwide sales of smart pet feeders are expected to surge at 7.8% CAGR to reach US$ 419.2 million by the end of 2032. Increasing pet adoption, changing pet care trends, and the introduction of novel technologies in pet management are major factors driving market growth.
The COVID-19 pandemic facilitated the reconnection of people’s lives at homes, especially pet parents. It allowed pet owners to spend quality time with their pets and give them the attention and care they require. This was a blessing in disguise for many; however, with the world back to a new normal and many people going out to work, it has raised concerns about pet parenting, especially for those who adopted pets during lockdowns.
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Technology has come to the rescue for concerns such as pet eating schedules when pet owners are not present at home. An increase in demand for smart pet feeders has been witnessed since the end of lockdowns. Smart pet feeders enable pet parents to control and monitor their pet’s feeding schedule with their mobile phones even when they are away from home. These smart devices also help in providing the right quantity of feed at right time.
Several benefits offered by smart pet feeders are driving their demand growth across regions.
Key Takeaways from Market Study
By pet type, the dogs segment is projected to provide an absolute $ opportunity of US$ 1 billion over the forecast period (2022-2032).
Among the sales channels, online sales are anticipated to expand around 1.9X in market value and create an absolute $ opportunity of US$ 583.8 billion by 2032.
Wi-Fi, as a connectivity type, is poised to create an absolute $ opportunity of US$ 966.1 million by 2032.
Europe is set to hold around 33.5% of the global market share by 2032 and reach a market valuation of US$ 1.4 billion.
North America is expected to provide an absolute dollar opportunity of US$ 480.3 billion by 2032-end.
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Market participants are engaged in collaborations, funding, mergers, acquisitions, and new product launches to compete in the market. Additionally, companies are focusing on expanding their product portfolios for bringing pet care products to the masses, and a few market players are investing in innovative products for meeting the needs of niche consumer categories.
Moreover, collaboration with retail channels will remain a crucial strategy for manufacturers of smart pet feeders, as they would become aware of the needs of consumers, and, in turn, develop application-specific products.
DOGNESS Group, Dokoo, Faroro, Petkit, Radio Systems Corporation, Skymee, Sureflap Ltd., Sure Pet Care, Welltobe, and Wopet are leading suppliers of smart pet feeders.
Key Segments of Smart Pet Feeder Industry Survey
Smart Pet Feeder Market by Pet Type :
Smart Pet Feeders for Dogs
Smart Pet Feeders for Cats
Smart Pet Feeder Market by Connectivity :
Smart Pet Feeder Market by Sales Channel :
Smart Pet Feeder Market by Region :
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Fact.MR, in its new offering, presents an unbiased analysis of the smart pet feeder market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on pet type (dogs, cats, others), connectivity (Bluetooth, cellular, Wi-Fi, others), and sales channel (online sales channels (company websites, e-Commerce platforms), offline sales channels (hypermarkets/supermarkets, modern trade stores, brand stores, pet care stores, pet clinics)), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
About the Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned consumer goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the consumer goods industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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